Bitdepositary Review

Bitdepositary

ICO Concept

Bitdepositary is a platform for secure ICO investing and with the help of their users and top-notch projects, they’re looking to upgrade the ICO space. Despite the fact that certain jurisdictions are beginning to regulate ICOs, it hasn’t been enough to thwart scams entirely, as evidenced by research indicating more than three-quarters of ICOs can’t be trusted. Meanwhile, investors are plagued with wallets that are similarly untrustworthy.

Enter Bitdepositary, which says it’s the maiden ICO founding community with an integrated payment system. They act as a mediator and platform for both token-issuing companies and investors. The platform boasts an integrated payment system with features like Salesforce and the blockchain. Bitdepositary’s ecosystem is comprised of a multi-asset wallet for trading, holding and exchanging cryptocurrencies.

At the onset, Bitdepositary will support bitcoin, Ethereum, Litecoin, Dash and Zcash. Bitdepositary also lets users perform banking functions on the platform across “stock exchange market and bank transfers in EUR and USD.” The overarching goal is to “skyrocket” investors’ profits “one ICO at a time.”

How Does It Work?

Chief among the goals of Bitdepositary is to help investors spot and avoid ICO scams. The way they intend to do this is by launching a voting process for new blockchain projects. The company calls it an “informal survey among users,” one that involves smart-contract fueled voting. Users have the option to vote yes or no to new ICOs based on their impression of authenticity and trustworthiness. Those votes translate to points, and investor influence varies based on a score that is generated over time.

In exchange for voting, users are awarded tokens from the relevant ICO projects and can earn bonuses for sharing the ICOs on social media. These tokens are deposited into the user’s Bitdepositary account. For the ICO projects, it’s a platform to have their projects reviewed not only by investors but also the Bitdepositary team, which the company refers to as “TeamBit”, including industry professionals such as tax and legal experts.

Features

Bitdepositary boasts “the world’s first ultra secure Q-Ratio market ICO funding community with integrated payment solutions,” according to the white paper. The features include administrative software, which together with SalesForce is designed to ensure the security of ICO projects on the platform.

The company has also developed a special algorithm that’s designed to rate users on the platform who are voting on ICO projects. The formula assigns ratings based on a user’s length of membership, experience, investments, returns and peer feedback. Less experienced investors can mimic the investment activity of more sophisticated ICO investors.

There is also a multi-asset wallet for users to exchange cryptocurrencies across bitcoin, Ethereum, Litecoin, Dash and Zcash. Users can also perform banking activities tied to the EUR and USD. Bitdepositary is fueled by the BDT token, and the company plans to launch a new exchange on which its native token as well as the tokens of successful ICO projects will trade. There are plans in the works for features to let users book flight arrangements including insurance on the Bitdepositary app.

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